Hi, today we are going to talk about XLM!
We have the price looking at the all-time low of December 4th, 2017. Historic supports generally have a preponderance in the market, as older, stronger they are.
Thanks for reading, and have good trades
Top coin that has not shown itself properly yet Stellar Lumen
Stellar is an open source, decentralized protocol for digital currency to fiat money transfers which allows cross-border transactions between any pair of currencies.
In 2014, Jed McCaleb, founder of Mt. Gox and co-founder of Ripple, launched the network system Stellar with former lawyer Joyce Kim....
Obviously it can, and XLM provides an excellent case study in how indicators especially the RSI and Stoch can remain "over sold" for as long as the market desires.
With that said, it does look like it's consolidating at 850, yes EIGHT HUNDRED AND FIFTY SATS. I had to do a double take when I saw it, insane that this traded at 4000+ sats not too long ago.
Lets face it...Alts look terrible vs Bitcoin and it seems like many could be going to Zero which in crypto means delisting...However times like these when the chart seems to have no bottom tend to be opportunities...Bitcoin still looks strong but if it ranges for several weeks of price action it could give the Alt market a little jolt of energy as money is spread...
If you're not long, you're wrong... According to the Guppy's!
Lower S2 pivot held strong
4H price forming an ascending triangle
*****InSilicos Guppy's showing green signal*****
RSI has blasted up to strong demand levels with price not moving much relatively
Bitcoin hesitating, consolidating and still above our lower support of 10.7
Other alts blasting off such as...
BARS A & B ARE THE SAME LENGTH YET...
WITH 4X VOLUME, BAR B COULD NOT MAKE FURTHER DOWNWARD PROGRESS
NO LOWER SHADOWS AND REDUCED VOLUME SUGGEST A
LACK OF BUYING INTEREST ABOVE THIS SUPPORT LEVEL
LOSS OF BEARISH ENGULFING PATTERN SUPPORT...
SHOULD CAUSE PANIC SELLING...
I was expecting Stellar to fall down to 730, but some really nice volume met it at ~915 support. Might push up from here. Here is my setup.
Pullback buy zone 915-935
Targets 995 - 1045
HODLer's candy 1020
Stop loss below 898
Stopless strategy - double order at 730 and sell at 900
Risk/Reward Ratio 1.8 / 3.3 (for main targets)
- I'm remain bearish until this coin break the recent down trendline for a first sign of reversal, but before that happen.. i expect this coin to 30 satoshi or zeroooo!!! lol.
- Expect a bounce from one of the support fibonacci line on quick pace after it's prolonged seller pressure.
DMI : -DI is still on the...